Source: Ollie, UConn deal could happen 'in the next day or two'

William S. Paxton

Updated 5:55 pm, Wednesday, May 21, 2014

Connecticut head coach Kevin Ollie gestures to the crowd before cutting down the net after a regional final against Michigan State in the NCAA college basketball tournament Sunday, March 30, 2014, in New York. Connecticut won the game 60-54. (AP Photo/Seth Wenig)

Kevin Ollie and UConn are not quite at the finish line for a new contract, but they are close to wrapping things up on what is expected to be a five-year extension for about $15 million.

"They are trying to get it done, but it's not done," said a source with knowledge of the negotiations on Wednesday. "It's one of those things that could get done in the next day or two."

According to the source, among the final sticking points to finish the contract are the salaries for the assistant coaches and also housing accommodations for some of the players.

Previous reports had mentioned Ollie's escape clause was involved in the delay, but a source said that is not an issue in closing the deal. Ollie had a $2.55 million escape clause if he had left this year, but that figure will go down each season in the new contract.

UConn athletic director Warde Manuel has not returned requests for comment about the extension, but mentioned last week that the two sides were talking.

Since the Huskies' season ended April 7 with a 60-54 win over Kentucky in the national championship game in Arlington, Texas, Ollie has said he would keep listening to the NBA, but pledged his devotion to UConn.

"I love this university," Ollie said last week at the New York Athletic Club where he received the Winged Foot Award, an honor bestowed annually to the coach of the national champions. "I am not looking for another job. Of course, you listen to different things. I got two ears, I'm going to listen, but I'm not running out there soliciting any other job. I want to be here at the University of Connecticut."

Ollie, 41, just completed his second season as the head coach of the Huskies. After retiring from the NBA in 2010 following 13 seasons, Ollie served as an assistant on Jim Calhoun's staff for two years. He replaced the Hall of Fame coach in September 2012, working under a seven-month contract that was replaced by a five-year, $7 million deal in December 2012.

Ollie reportedly made between $1.4 and 1.6 million this past season, with bonuses for various accomplishments, including a national championship.

Ollie's name has surfaced for various NBA openings, including the Los Angeles Lakers. But, while one NBA team -- not the Lakers or New York Knicks -- had exploratory talks with the coach, nothing developed from it. One team, reported to be the Cleveland Cavaliers, spoke with Ollie, but were turned down.

In two seasons with the Huskies, Ollie has a 52-18 record, including 8-1 in the postseason (6-0 NCAA tournament). He took over a program that was banned for the 2013 postseason after the Huskies failed to maintain a high enough Academic Progress Rate under Calhoun.

With Ollie onboard, the Huskies scored a 1,000 on the most recent APR, which was released last week, for the 2012-13 season.

The Huskies are expected to be one of the favorites in the American Athletic Conference next year with Ryan Boatright returning for his senior season and sophomore guard Rodney Purvis eligible following a transfer from North Carolina State.

The school is expected to add top recruit Daniel Hamilton, who has a Financial Aid agreement in place, but has yet to sign a Letter of Intent. Hamilton said last month in New York he plans to attend UConn if Ollie remains at the school.